NEW YORK -- (Business Wire)
Western Asset Municipal Partners Fund Inc. (NYSE: MNP) announces its
portfolio composition as of December 31, 2010.
Investment Objective: The Fund seeks as high a level of current
income exempt from regular Federal income tax as is consistent with
preservation of principal. As a secondary objective, the Fund seeks
capital appreciation.
Portfolio Composition*:
Asset Allocation | |
Municipals | 97.4% |
Variable Rate Demand Notes | 2.5% |
|
|
Top Ten Municipal Sectors | |
|
Health Care
|
19.9%
|
|
Local
|
16.0%
|
|
Special Tax Obligation
|
12.0%
|
|
Power
|
11.0%
|
|
Transportation
|
10.3%
|
|
Industrial Revenue
|
9.1%
|
|
Water & Sewer
|
5.6%
|
|
Pre refunded / Escrowed to Maturity
|
4.2%
|
|
State
|
3.3%
|
|
Education
|
2.9%
|
|
|
Credit Quality Allocation** | |
|
AAA
|
22.3%
|
|
AA
|
38.9%
|
|
A
|
31.2%
|
|
BBB
|
7.4%
|
|
Not Rated
|
0.2%
|
|
|
Call Statistics | |
|
Not Callable
|
20.4%
|
|
2011
|
8.3%
|
|
2012
|
9.0%
|
|
2013
|
1.2%
|
|
2014
|
3.3%
|
|
2015
|
10.3%
|
|
2016
|
4.8%
|
|
2017
|
12.4%
|
|
2018
|
8.0%
|
|
2019
|
5.2%
|
|
2020
|
17.2%
|
|
|
Average Life (years) |
13.3
|
Effective Duration (years) |
8.5
|
Average Coupon (%) |
5.2
|
Subject to AMT (%) |
6.3
|
|
|
Portfolio Statistics: | |
|
|
Inception Date |
January 29, 1993
|
Inception Price |
$15.00
|
Total Assets*** |
$220,019,642
|
Net Assets |
$135,019,642
|
Preferred Shares**** |
38.63%
|
|
|
Market Price |
$13.26
|
NAV |
$13.89
|
|
(Daily NAV is available on market quotation systems using the symbol
XMNPX)
|
|
|
Distribution Rate |
$0.0675 per share
|
Frequency |
Monthly (Declared quarterly, paid monthly)
|
|
*
|
|
Portfolio holdings and weightings are historical and are presented
here for informational purposes only. They are subject to change at
any time.
|
| |
|
|
**
| |
Credit quality is a measure of a bond issuer's ability to repay
interest and principal in a timely manner. The credit ratings
shown are based on each portfolio security's rating as provided by
Standard and Poor's, Moody's Investors Service and/or Fitch
Ratings, Ltd. For this purpose, if two or more of the agencies
have assigned differing ratings to a security, the highest rating
is used. Securities that are unrated by all three agencies are
reflected as such. The credit quality of the investments in the
Fund's portfolio does not apply to the stability or safety of the
Fund. These ratings are updated monthly and may change over time. Please
note, the Fund itself has not been rated by an independent rating
agency. |
| |
|
|
***
| |
The difference between total assets and net assets, if any, is due
primarily to the Fund’s use of preferred shares; net assets do not
include preferred shares. The Fund may employ leverage in the form
of preferred stock and/or other instruments. When the Fund engages
in transactions that have a leveraging effect on the Fund’s
portfolio, the value of the Fund will be more volatile and all other
risks will tend to be compounded.
|
| |
|
|
****
| |
Percentages based on total assets.
|
| |
|
Western Asset Municipal Partners Fund Inc., a diversified closed-end
investment management company, is advised by Legg Mason Partners Fund
Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. and is
sub-advised by Western Asset Management Company, an affiliate of the
adviser.
An investment in the Fund involves risk, including loss of principal.
Investment return and the value of shares will fluctuate. Fixed income
securities are subject to credit risk, inflation risk, call risk, and
interest rate risk. As interest rates rise, bond prices fall, reducing
the value of the Fund's share price. Certain investors may be subject to
the alternative minimum tax (AMT). State and local taxes may apply. The
Fund may invest in derivative instruments. Derivative instruments can be
illiquid, may disproportionately increase losses, and have a potentially
large impact on Fund performance.
Data and commentary provided in this press release are for informational
purposes only. Legg Mason and its affiliates do not engage in selling
shares of the Fund.
For more information, please call Fund Investor Services at 888-777-0102
or consult the Fund’s web site at www.leggmason.com/cef.
FN1011956
Contacts:
Western Asset Municipal Partners Fund Inc.
Fund Investor Services,
888-777-0102
www.leggmason.com/cef
Source: Western Asset Municipal Partners Fund Inc.
© 2024 Canjex Publishing Ltd. All rights reserved.